Caltex plant maintenance erodes April output

Maintenance work at one of Caltex’s refineries reduced the company’s production of refined fuels in April as higher crude oil prices ate into margins.

Caltex on Thursday reported sales volumes from its own production of 753 million litres in April, down from 836 million litres in the same month last year and about 19 per cent below the March figure.

The company, half-owned by US oil giant Chevron, made a margin of $US6.16 a barrel, similar to the $US6.32 a barrel in March. But the figure was well down on the $US11.22 a barrel average Singapore weighted margin for the month because of higher premiums Caltex had to pay over and above the strong Brent crude price.

Caltex
carried out scheduled maintenance at its Kurnell plant near Sydney in the month.